The “Five P’s” of Estate Planning | Sharpe Group
Posted February 28th, 2022

The “Five P’s” of Estate Planning

Though most people understand it’s important to ensure their long-term affairs are in order, many of your donors may not be sure where to start. Here are a few tips to share to ensure your donors’ plans reflect their wishes.

Suggest the donor carefully consider their estate using the “Five P’s” of estate planning.

  1. People: Loved ones in their life for whom they feel responsible and/or wish to remember.
  2. Property: What do they own? They should include all homes, automobiles, securities, jewelry, artwork and any other assets.
  3. Plans: Who gets what? It may be helpful for them to make a list before they meet with an attorney.
  4. Planners: A donor may ask for a recommendation of an attorney. You can direct them to their local bar association to find a list of attorneys in their area. Attorneys are usually happy to quote a fee in advance.
  5. Philanthropy: And finally, the most important “P.” Philanthropy is where you can provide the greatest support. Discuss how your donor’s legacy will make a difference in your mission. Explore the various ways they can include your organization in their plans, as well as the available tax advantages.

If five “P’s” isn’t enough, it’s important to remind your donors of the sense of Purpose they’ll enjoy, knowing that by securing their plans, they’re supporting not just their loved ones but the charitable organizations that have impacted them throughout their lives.

By Joe Chickey, MBA

With more than 60 years working with nonprofits, Sharpe is a leader in the industry of gift planning and fundraising. Talk to us today about training your team or join us for one of our in-person or virtual seminars (Sharpe Online Academy).

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